Based on a recent article by Nextavenue.org writer Jessica Thiefels — “Five Benefits of Having a Multigenerational Family Business” — Platinum’s Bill English provided his insights from his work with family owned businesses in a recent LinkedIn post. According to Bill, the five benefits can only exist when other factors also exist, such as balancing roles, demonstrating unconditional love and acceptance, practicing forgiveness and celebrating […]
Platinum’s Ken Ritterspach is co-chairing this year’s “Cheers for Charity,” a Bloomington Noon Rotary event set for June 29 at the Mall of America. Featuring live, local band Bigly, Minnesota craft beers, wine, games and prizes, the event runs from 4:00 to 8:00 PM in MOA’s north parking lot. In its fourth year “Cheers for Charity” supports local charities with an emphasis on fighting hunger, […]
How Platinum Group helped a significant family-owned Iowa feed mill navigate a strategy into a new future
With the economy starting to recover, many owners are uncertain where to look for new sales opportunities. The marketplace landscape has certainly changed: competitors may have gone out of business, price competition is still eroding margins, and company layoffs may have reduced sales and customer service staff. The value of a Customer Relationship Management (CRM) system for developing and tracking a company’s go-to-market strategy is […]
As the down economy continues, owners and managers feel frustrated in their attempts to maintain their business. Growth Opportunities Checklist for Improving Current Operations Download the Checklist
Many business owners have been facing uncertain market conditions for the last year. Their customer buying patterns have been disrupted by the uncertainty facing all of us today. Unprofitable operations, a decline in the collateral value of assets used to support bank loans and erosion of working capital from ongoing losses are leading many owners to wonder if their businesses can be sustained.
In this down economy, many companies are unable to meet their obligations to their lenders and vendors. Click here to see our Liquidation Analysis Tool Download the Liquidation Analysis Tool
How Platinum helps owners to restore, enhance or realize the value of their businesses Situation More than 7,000 executives go to Mayo Clinic each year for an annual, personalized checkup. And when companies want to stay healthy, they come to Platinum Group for an Opportunity Assessment. Top-line growth, improved cash flow and greater operating efficiency are common objectives of business owners searching for ways to […]
When relationships are in jeopardy in a family owned or other small business, how does the owner work toward resolution? Conflicts may occur between family members, board members, leadership, key employees and during merger/acquisitions. Rather than tolerating them, consider transforming conflict into value. For more details, contact Bill English at 952-829-5700 or Bill.English@thePlatinumGrp.com Civil mediation services Dispute resolution services Conflict resolution training The Cost of […]
Our succession process began without a formal plan. I eventually realized that the do-it-yourself approach had lost traction on both the business and family fronts. Was it too late to create a proactive succession plan? I often refer to myself as the “illegitimate” third generation of Ostbye & Anderson, the Minneapolis jewelry manufacturer founded by my wife’s family in 1920. My father-in law never liked […]